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VALUATION IN LITIGATION

Not every litigation case requires outside experts. However, many involve the employment of consultants on behalf of plaintiffs and/or defendants. Our role, when we choose to accept an assignment, usually involves an analysis of the economic damages, or lack thereof, suffered by the plaintiff.

In some cases, we are hired as advocates for one party, not as objective analysts and expert witnesses. This work can involve some or all of the following:

  1. Critiquing the opposing party’s analysis of economic damages.
  2. Providing worst- and best-case scenarios for the damages, as a consultant not an expert.
  3. Preparing legal counsel to conduct depositions of the other “expert” and cross examination in the court room.

In a majority of our litigation valuation engagements, we maintain an objective position, even though we are hired by one side. The best way to remain objective is to initially perform a preliminary estimate of the damages. Assuming we cannot “help” our side, we are paid for the initial study and perform no further work.

In some ways, a litigation engagement is not much different than a normal valuation. The key is to get accurate and timely date. Often, we have to rely on forensic accountants to re-create the proper financials and lost profits. Since our services include the valuation or appraisal of any business or business asset, the litigation analysis can be applied to the business, intangibles (IP), and tangible assets (real estate and equipment).

To serve as a credible expert, a professional must possess certain credentials. His prior valuations or appraisals are subject to scrutiny and can be used against them. Opposing counsel will want to discredit him as an expert and demean his analysis. Our senior team is expert at producing a cogent argument and testifying to same.

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